Apples Sales In Services Quarterly Revenue
Apple’s CEO, Tim Cook, said that despite the challenging economic situation, the company had good news to share. They achieved their best-ever sales in services and iPhones in the March quarter, and now have more active devices than ever before. Apple plans to continue investing in the future while remaining true to their values. They’re making important progress in creating products and supply chains that are carbon-neutral, and they hope to achieve this by 2030.
Consolidated Financial Statements
Apple’s CFO, Luca Maestri, stated that the company’s business performance improved year over year in the March quarter, compared to the December quarter. Apple also generated strong operating cash flow of $28.6 billion and returned over $23 billion to shareholders during the quarter. Maestri expressed confidence in Apple’s future and the value of its stock, which led the Board to approve an additional $90 billion for share repurchases. Apple is also increasing its quarterly dividend for the eleventh consecutive year.
Apple’s board of directors announced that the company will be paying a cash dividend of $0.24 per share of common stock, representing a 4% increase from the previous dividend payment. The dividend will be paid on May 18, 2023, to shareholders of record as of May 15, 2023. Additionally, the board of directors authorized a new program to buy back up to $90 billion of the company’s common stock.
